Do most Lenders frown upon...
a buyer, getting a Loan for the sole purpose of purchasing a property in order to turn right around and Flip it, in 3 - 4 months ( after the minimum 90-days has passed ) ?
If I'm looking to get into the Flipping business and Flip a property every 3-4 months, do most banks/lenders discourage this, since their main way of making a profit on a loan, is the interest they collect from that loan
Just trying to make sure I stay in the good graces of these Lenders, as I'll be relying on them to get new loans per property I look to buy
Thanks everyone
Most Popular Reply
Generally speaking, yes. However, some banks, particularly smaller local banks, may have a loan program that may work for you. I like to know about as many banks in my area (as well as the types of deals they "like") so that I know who to talk to when I need money. Short term financing is tough using a mortgage. Another thought is to set up a line of credit, secured or unsecured or both, as it is more flexible. Be careful on what you tell your banker you intend to use it for, many don't like to hear that you are using it to BUY real estate